Schonfeld Strategic Advisors LLC Takes Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Schonfeld Strategic Advisors LLC acquired a new stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 244,548 shares of the company's stock, valued at approximately $3,879,000. Schonfeld Strategic Advisors LLC owned 0.13% of Broadstone Net Lease at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Lido Advisors LLC increased its stake in Broadstone Net Lease by 26.5% in the 4th quarter. Lido Advisors LLC now owns 54,218 shares of the company's stock valued at $872,000 after purchasing an additional 11,374 shares in the last quarter. Northern Trust Corp raised its stake in shares of Broadstone Net Lease by 20.0% during the 4th quarter. Northern Trust Corp now owns 2,464,544 shares of the company's stock worth $39,088,000 after buying an additional 410,767 shares during the last quarter. Quarry LP acquired a new position in Broadstone Net Lease during the fourth quarter worth about $57,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Broadstone Net Lease during the 4th quarter worth approximately $246,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Broadstone Net Lease by 4.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 742,956 shares of the company's stock valued at $11,784,000 after acquiring an additional 31,284 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JMP Securities reiterated a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday. BMO Capital Markets set a $20.00 target price on Broadstone Net Lease and gave the stock an "outperform" rating in a research report on Monday, March 24th. Finally, Truist Financial increased their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.83.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL traded down $0.02 during midday trading on Tuesday, reaching $16.01. The stock had a trading volume of 867,199 shares, compared to its average volume of 1,172,953. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 18.40 and a beta of 1.04. Broadstone Net Lease, Inc. has a twelve month low of $13.96 and a twelve month high of $19.15. The company's 50 day moving average price is $16.35 and its 200 day moving average price is $16.47.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. The business had revenue of $112.13 million during the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. Equities analysts forecast that Broadstone Net Lease, Inc. will post 1.43 earnings per share for the current fiscal year.

Broadstone Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date of this dividend is Monday, June 30th. Broadstone Net Lease's payout ratio is currently 190.16%.

About Broadstone Net Lease

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation's operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation's properties.